OFAC Authorizes Orbit S.A. In Cuba To Engage In Remittance Transactions- Not On Cuba Restricted List (CRL). Western Union Next Up To Return?

On CubaNews
Miami, Florida
17 November 2022

Sending remittances to Cuba made more flexible

The Miami-based VaCuba agency has obtained permission from the Office of Foreign Assets Control (OFAC) to operate with Cuba’s Orbit S.A. the sending of foreign currency to the island. According to reports, the United States government has just relaxed the restrictions for sending remittances to Cuba by granting the Miami-based VaCuba agency, from Miami, permission to operate with Cuba’s Orbit S.A. the sending of foreign currency to the island.

“We have received authorization from the Office of Foreign Assets Control (OFAC) to operate with Orbit S.A., which allows us to send remittances to the cards in freely convertible currency of Cuban banks with a 7% fee on our website,” said Heder Martínez, general manager of VaCuba.

It was also announced that VaCuba will charge each client 7 dollars for every 100 that they send to the island, a modest rate considering that right now Cubans in the United States have to pay in the informal market around 30 dollars for every 100 that they send to their relatives.

In February 2022, the Cuban government authorized Orbit S.A. to operate to work with remittances. A resolution published in the Gaceta Oficial announced that it was given authorization to “manage and process international transfers from abroad to Cuba.

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